THE ROLE OF THE LIQUIDATOR

The way in which the assets of a deceased are administered must go through the liquidation process.

The liquidator (previously called the “executor”) is the person in charge of administering a deceased’s succession (also known as an estate). Among these administrative tasks, the liquidator will be responsible for collecting the assets, making an inventory, paying off the debts, protecting the property and allocating the remaining assets to the beneficiaries. Needless to say, these tasks may become highly complex and time-consuming.

Hence, it is essential that the liquidator fully understands the extent of the responsibilities that will come along with such a function and seek professional help if necessary.

In any given case, the role of the liquidator will always be continuous,[1] voluntary[2], revocable[3], private[4] and remunerable.

[1] Civil Code of Québec (CCQ), CQLR c CCQ-1991 art.791 para 2.

[2] Ibid art. 784 (except where the liquidator is the sole successor, case in which he will be obliged to accept the role of liquidator).

[3] Ibid art. 791 para 1.

[4] Ibid art. 790 para1.

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The above noted text should not be construed as providing legal advice or a statement of your claim. The process highlighted above are merely parameters and barometers and do not constitute any warranties and guaranties with regards to your file at hand. We strongly recommend that you seek legal advice with a licensed attorney from the Barreau du Quebec or a notary at the Chambre des Notaires. Each case must be seen and analysed on its merits as the legal process may be complex and cumbersome.